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Tuesday, August 23, 2005

My mate Joel

The regular reader might know that my good mates Marcus and Ellen (or Mellon as Ali and I call them to save time) bought me a single share in Manchester United football club a couple of years ago for my birthday. It was an excellent present since I have been getting company reports and announcements not to mention invitations to company meetings ever since. So while most fans think Wayne Rooney cost £30million, I know from the company accounts that he cost £27.5 million with the other £2.5million being dependant on the number of goals he scores.

Obviously anyone who has been keeping their eyes on the news will know that the Glazer family have now bought 95% of Man Utd shares. This means that they now have the right to force everyone else to sell their shares. But I have been holding out with my one share :-) I have so far received about five letters and a huge prospectus from some legal company called NM Rothschild & Sons asking me to sell them my share. Just to clarify - my share is worth about 3 quid. I dread to think how much they have spent trying to get it off me.

Today I received a mail by recorded delivery (which costs £2.20) personally signed by Mr Joel Glazer referring to me as a "non-assenting shareholder" asking me to flog them my shareholding ASAP. Are you having a laugh! Of course not. It is far to much fun watching all this legal nonsense going on over my one single share. A little while go Marcus suggested I should offer my share in exchange for a season ticket. Seeing the money they are wasting trying to get it off me, maybe I should try it.

1 comment:

Its probably being repeated around the UK a few times with other people as well.

Asking for a season ticket might not get you too far as Glazer doesn't have many of them to give away, but ask for some absurd amount of cash (he has lots of cash) like £25,000, haggle down to £10,000 & take a chunk out of your new mortgage!?

Get what you can, at the end of the day with the powers of a majority shareholder Glazer will probably get some court to decide in your absence that he can send you a cheque for market share less costs, which will give a balance of zero.